TA Associates Invests in Israeli Online Food Marketplace 10Bis

NOAH Advisors acted as exclusive financial advisor to 10Bis and its shareholders

NOAH Advisors Completed Transaction 10bis

Deal Team

10bis:
Tamir Carmel, Tomer Fefer, Nurit Shaked
TA Associates:
Naveen Wadhera, Morgan Seigler, Stefan Dandl, Max Cancre
Goldfarb Seligman:
Rami Sofer, Veran Vistanetzky
NOAH Advisors:
Marco Rodzynek, Jan Brandes, Nikhil Parmar, Aleksander Skwarczek

Transaction Summary

  • On 23rd of May 2016, 10Bis (www.10bis.co.il) – #1 online platform in the Israeli restaurant and food ordering market – announced an investment by TA Associates
  • Financial details of the transaction were not disclosed
  • TA Associates will help 10Bis to execute its multi-layered growth strategy, with the Israeli B2C market opportunity as its main focus in the short-term

Overview of 10bis

  • In the B2B market in Israel, 10bis operates a leading online food marketplace that allows businesses to provide employee meal benefits programs
    • The 10bis platform is integrated into a company’s human resources and accounting systems, with employees’ allowances made available through a dedicated 10bis account
    • 10bis clients include leading Israeli corporates as well as large multinational corporations
    • Employees can make restaurant purchases via the 10bis mobile app or website, or by using a 10bis card in person at participating restaurants. Individuals can also use the 10bis platform to order personal meals from the comfort of their home
  • In 2015, 10bis entered the B2C market with the launch of its direct-to-consumer offering
    • The rapidly growing platform provides quick and easy access to thousands of restaurant menus, reviews and ratings, while offering discounts, special promotions and other benefits
  • 10bis processes more than one million orders per month across a network of more than 3,500 restaurants in 20 cities in Israel
  • Founded in 2000, 10bis is headquartered in Tel Aviv

NOAH Advisors’ Role

  • NOAH Advisors acted as exclusive financial advisor to 10Bis and its shareholders
  • This marks NOAH Advisors’ 4th transaction in Israel in the last 24 months: Sell-side advisor to Drushim and its shareholders in its 70% stake sell to Yad2 in September 2015, advisor to BiScience in its minority deal with WPP in July 2015, and advisor to Yad2 and its shareholder Walla! in its 100% sale to Axel Springer in May 2014